Monday, 27 April 2015
Last updated 53 min ago
Feb 12 2014 | 12:18pm ET
Credit Suisse's Brazilian hedge fund posted only a slight decline in the face of economic turmoil in emerging markets—including Brazil.
Credit Suisse Hedging-Griffo's Fundo Verde dropped 0.06% last month. The fund's stock holdings suffered the loss, which was offset by its fixed-income and currency investments.
"There was in fact excess optimism in prices, which was corrected throughout January and the start of February," Hedging-Griffo told investors this week. And the firm sought to shift blame for the troubles from the U.S. and China.
Hedging-Griffo wrote that uncertainty in those markets is "particularly toxic" for emerging markets, but that troubles in the latter "won't end because of a decision by the Federal Reserve of the Chinese Communist Party."
"Prices have already started to adjust and, in some cases, policies too. But this movie is far from over."
Fundo Verde manages more than 20 billion Brazilian reais (US$8.3 billion) in assets.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…